William F. Casey has been named treasurer of Residential Capital LLC, a subsidiary of GMAC Financial Services, effective April 2.Mr. Casey, 44, succeeds Louise M. Herrle, who has served as treasurer at GMAC ResCap since September 2004. Ms. Herrle, who will remain through May to assist with the transition, is leaving full-time corporate involvement to pursue personal interests, including active community work, the company said. For the past 18 months, Mr. Casey has been managing director and assistant treasurer of GMAC ResCap. Before joining GMAC ResCap, Mr. Casey was senior vice president and treasurer of GMAC Residential in Horsham, Pa., and held senior banking and treasury positions at Merrill Lynch, Union Bank of Switzerland, Smith Barney, and Mellon Bank.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
11h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
April 24 -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24